Aerial view of the Karot Hydropower Station in Pakistan.Image Credit: China Three Gorges Corporation
Islamabad: The Karot Hydropower Project, the first hydroelectricity project under the China-Pakistan Economic Corridor (CPEC), is close to completion as it began storing water in its reservoir for future use.
Pakistani officials described the development as a “big milestone” as the hydropower project successfully closed the gates of diversion tunnels on Saturday to start reservoir impoundment, the accumulation of water in its reservoir. Around 95 per cent of the project has been completed. The four units of the station are expected to generate electricity in the first half of 2022.
The Karot Hydropower Project is located on the Jhelum River in north eastern Pakistan, some 65 kilometres from the capital Islamabad. It is the fourth of five cascade hydropower stations planned for the Jhelum River. The 720MW project will enable Pakistan to access cheaper and greener power, help resolve the power crisis while creating job opportunities.
Built at an estimated cost of $1.7 billion, it is a landmark Belt and Road Initiative (BRI) project as it is the first to be funded by China’s $40 billion Silk Road Fund. The project is managed by Pakistan’s Karot Power Company and the major investment comes from China Three Gorges Corporation, which is among the world’s largest producers of hydroelectric power. The project has been developed on a build-own-operate-transfer (BOOT) basis.
Karot Power Company will run and maintain the project for 30 years at a tariff of 7.57 cents per unit after which it will be transferred to the Punjab government at a notional price of Rs1.00. The project provided over 4,000 jobs for the locals during the peak time of its construction. The project also expects “to reduce carbon dioxide emissions by 3.5 million tons per year” by tapping renewable energy. Gulf News - link - Sana Jamal - link - more like this - link
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